PROJECT

Projects

Summary of Investment Information

Project Number

42086

Company Name

SIMPLECREDIT MICRO-LENDING COMPANY LIMITED

Date SPI Disclosed

Mar 31, 2020

Country

China

Region

East Asia and the Pacific

Projected Board Date

May 22, 2020

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Feb 13, 2025

Department

Regional Industry - FIG Asia & Pac

Industry

other

Previous Events

Approved : Jun 30, 2020
Signed : Jun 30, 2020
Invested : Oct 13, 2021

Sector

other

Project Description

The proposed investment entails a 3-year financing package, including IFC A loan of up to RMB350 million (US$50 million equivalent) and syndication of up to US$30 million or equivalent, to Simple Credit Micro-Lending Co., Ltd. (“Simple Credit”, or the “Company”), a microfinance company holding internet lending license (“Internet MCC”) in China. The proposed IFC financing aims to support Simple Credit to grow its digital agriculture lending (“Digital Agri-lending”) business primarily in frontier regions of China and to promote access to finance for micro, small and medium enterprises (“MSMEs”) along the agriculture supply chain.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation